If you’re hunting for real estate in Denver, you may need to consider a new tactic: stealth. In markets where available homes have dwindled or listings come and go quickly, some home buyers are skipping the MLS and working behind the scenes with agents and/or directly with sellers.
This is particularly true in Denver, which is second in the country for the shortest time on the market for home listings. Homes in Denver are on the market for a mere 33 days, well below the 89-day national median. There are just too few homes in the area to meet the high buyer demand, especially in the under $300,000 price range.
Yet agents say there are actually lots of people wanting to sell. They’re just not sure they can get the price they need. According to CoreLogic, one out of every two homes available for sale in January 2012 was not on the market but potentially available for those who could find it.
Those working in the shadows can often secure a private deal with these quiet sellers. Agents will often locate them through referrals, and some buyers are brave enough to make unsolicited bids on homes they like.
Often it’s networking that will uncover a seller, but sometimes it’s just being very observant. One buyer saw a construction dumpster in front of a house, learned the property was to be sold, made an offer and got the home.
There are several ways to locate these “off the grid” deals.
- See if your real estate agent has a premarket listing service that you can peruse. They may also have some type of service where potential buyers can state what kind of Denver property they’re searching for.
- Find an agent who knows the particular neighborhood you like as they generally know what’s in the works for their area.
- If you’re looking at a townhouse or condo community, pass around your home “wish list” to current residents.
If you’re a nervous Denver home seller, drop a hint to your agent or to friends and family. This kind of networking just may bring the buyer to you—especially if you’re selling in a hot market like Denver.
Whether buying or selling, don’t hesitate to explore every available option to secure the deal.
Let the professionals at the Bandy Team help you buy or sell a Denver home. Contact us for a no-obligation consultation. If you’re thinking about buying a home in Denver, we can show you some terrific properties in Denver, including homes in Cherry Creek, town homes in Lowry, and real estate in Stapleton. You may also be interested in horse property in Elizabeth or Parker horse property, and a variety of Parker golf course homes in Canterberry.